Thank you for sharing!

Your article was successfully shared with the contacts you provided.

CLEAR LAKE, TX-Bay Area Ford has purchased its base of operations at 16800 Feather Craft Lane from a Houston businessman after leasing the 54,000-sf building on five acres for the last 15 years.

Seller McKallip Interests Ltd. developed the site for the Ford dealership, Coy Davidson, vice president with the Houston office of Colliers International tells GlobeSt.com. With the dealer’s lease set to expire in June 2004, McKallip hired Davidson and Robert S. Parsley, CEO and principal of Colliers International’s Houston office, to market the property because Bay Area Ford had plans to develop a nearby tract and relocate.

The property, listed at $3 million, was on the market about six months. Davidson says several retailers looked at the site for potential development, but only one serious offer surfaced–a buyer with plans to use it “as-is” for an automotive-related business. The 54,000-sf showroom includes offices and a service center. Davidson says Bay Area Ford didn’t have a first right of refusal, but reconsidered its future plans and bought the site for “close” to the sticker price.

The holding, with frontage on Bay Area Boulevard, is located in a high-profile area, 23 miles southeast of the Houston CBD. Its immediate neighbor is a 170,000-sf office building, which is leased to Lockheed Martin, while a Chevrolet competitor is located nearby. The Harris County Appraisal District assesses the property at close to $1.9 million. Davidson and Parsley were the only brokers involved in the deal.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.